_____________ loans allow the consumer to repay a loan over a set period. They require periodic principal and interest payments The loan is generally secured by the item being purchased. Automobile loans or real estate mortgage loans are common types of such types of loans.

Question

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Installment loans are loans that are repaid over a set period with periodic principal and interest payments, and they are often secured by the item being purchased, such as automobiles or real estate.

_____________ Loans Allow the Consumer to Repay a Loan Over